Chinese New Year, also known as the Spring Festival in China, is an important Chinese festival celebrated at the turn of the traditional lunisolar Chinese calendar. Chinese New Year holiday is a time when Chinese citizens reunite with their family and usually a time when they spend.
This year, Chinese nationals have spent most of their money on travelling, dining out and entertainment. Sales in catering and retail industry jumped 10.2 percent to about 926 billion yuan ($146 billion) during the Chinese New Year holiday from Feb. 15 to 21, compared with last year’s Spring Festival week, according to the Ministry of Commerce.
The consumption trends of traditional Chinese New Year have been seen to improve this year. Besides festival gifts, jewelry, accessories and clothing, organic vegetables, fresh fruit and healthcare products were amongst this years popular shopping items.
In addition, smart home devices such as floor-sweeping robots and dishwashers were particularly popular this year.
Now let’s have a close look at these three sectors: travelling, dinning out and entertainment, which have gained increasing popularity among the Chinese during the Spring Festival.